I see plenty of upside in CVN, however simply on the basis of reserves, and profitability etc Hartleys are no doubt using their usual rose tinted glasses. You don't have to look further than the optimistic USD85/bbl used. It may prove right, but that is not the basis on which the market is currently valuing oilers. Fact is Hartleys seem to value a number of junior oilers at multiples of the current price, and indeed at multiples of what I would pay. Admittedly I like several they support.
Note also they only list themselves with one O&G analyst.
Anyway, they package/summarise the current status of the CVN story in a very fair and readable form.
Looking for the next price catalyst. It has to a decent sized deal. Will be hard to do better than current assets, but they've got to reinvest.
EL
hartleys 12 month target, page-8
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Last
15.0¢ |
Change
0.010(7.14%) |
Mkt cap ! $268.3M | |||
| Open | High | Low | Value | Volume |
| 14.5¢ | 15.0¢ | 14.0¢ | $155.3K | 1.059M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 530233 | 14.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.0¢ | 440281 | 13 |
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| Last trade - 16.10pm 12/09/2024 (20 minute delay) ? |
| CVN (ASX) Chart |